EUR/USD Fundamental Analysis – November 30, 2015 – Forecast

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Updated: Nov 27, 2015, 12:45 UTC

Analysis and Recommendations: The EUR/USD fell 28 points to trade at 1.0583 as traders prepare for this coming weeks big event. On Thursday the ECB will

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EUR/USD Fundamental Analysis – November 30, 2015 - Forecast

Analysis and Recommendations:

The EUR/USD fell 28 points to trade at 1.0583 as traders prepare for this coming weeks big event. On Thursday the ECB will introduce their new stimulus programs and Friday will reveal US jobs data the last big piece of data ahead of the FOMC meeting. The dollar, euro and yen found themselves in familiar territory early on Friday, having shuffled sideways in thin trade with U.S. markets shut for the Thanksgiving Day holiday. The euro managed to hold above 1.0600 most of the day and last stood at 1.0583. It remained within reach of a 7-1/2 month trough of 1.0565 set earlier in the week.

The prospect of more easing from the European Central Bank at next week’s policy review has been keeping the euro under pressure. Traders suspect this trend will probably continue in another subdued session with an early close for U.S. markets on Friday. In contrast to the ECB, the Federal Reserve seems likely to hike U.S. interest rates in December. The European Central Bank is considering options, including whether to stagger charges on banks hoarding cash, Reuters reported this week, as part of a new push to support growth that it may announce next Thursday.

In the data space, mixed results in the euro area have seen Economic Sentiment and Consumer Confidence surpassing expectations for the month of November.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
	United States – Day following Thanksgiving – Early close at 13:30
GBP	Nationwide HPI (YoY) (Nov)	3.7%	4.2%	3.9%
GBP	Nationwide HPI (MoM) (Nov)	0.1%	0.5%	0.5%
GBP	Business Investment (QoQ) (Q3)	2.2%	1.5%	1.6%
GBP	GDP (QoQ) (Q3)	0.5%	0.5%	0.5%
GBP	GDP (YoY) (Q3)	2.3%	2.3%	2.3%
EUR	GfK German Consumer Climate (Dec)		9.2	9.4

Upcoming Economic Events that you should be monitoring:

Monday, November 30, 2015

Cur.	Event	Actual	Forecast	Previous
NZD	Building Consents (MoM) (Oct)			-5.7%
JPY	Industrial Production (MoM) (Oct)			1.1%
JPY	Retail Sales (YoY) (Oct)			-0.2%
AUD	HIA New Home Sales (MoM) (Oct)			-4.0%
NZD	ANZ Business Confidence (Nov)			10.5%
AUD	Company Gross Operating Profits			-1.9%
AUD	Private Sector Credit (MoM) (Oct)			0.8%
EUR	German CPI (MoM) (Nov)
USD	Chicago PMI (Nov)		55.0	56.2
USD	Pending Home Sales (MoM) (Oct)		1.0%	-2.3%